VeChain is a smart contract platform focused on providing supply chain management solutions for enterprises and integrating with Internet of Things (IoT) devices to facilitate the process. VET is the Token of VeChain. On Sep.12, after Coinbase announced that it would list VET, VET increased for several days in a row. Apart from being listed on Coinbase, there are no additional benefits.
At the daily level, although the increase brought about by the listing is very strong, it has not recovered the earlier decline. Price fluctuations of 20% are common for VET. At a large level, VET has never been able to break through the yellow wavy range. After rising, VET remained fluctuating for nearly a month, during which trading volume returned to previous levels.
The MBF indicator showed a strong bottom-buying sentiment on Sep.13. The listing on Coinbase indeed attracted many traders to collect chips. We can also see this from the WTA indicator. When 4 consecutive candles appear, the blue whale participates in the transaction. However, it should be noted that after the increase ended, the price continued to fluctuate for a month, and the whale disappeared. In addition to the blue columns, the gray and red are also gone. Only retail investors are trading. This shows that the whale has taken profit. In recent days, we can see very short blue bars appearing while the price is indeed falling, which is not good.
The rise of VET may be over.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
At the daily level, although the increase brought about by the listing is very strong, it has not recovered the earlier decline. Price fluctuations of 20% are common for VET. At a large level, VET has never been able to break through the yellow wavy range. After rising, VET remained fluctuating for nearly a month, during which trading volume returned to previous levels.
The MBF indicator showed a strong bottom-buying sentiment on Sep.13. The listing on Coinbase indeed attracted many traders to collect chips. We can also see this from the WTA indicator. When 4 consecutive candles appear, the blue whale participates in the transaction. However, it should be noted that after the increase ended, the price continued to fluctuate for a month, and the whale disappeared. In addition to the blue columns, the gray and red are also gone. Only retail investors are trading. This shows that the whale has taken profit. In recent days, we can see very short blue bars appearing while the price is indeed falling, which is not good.
The rise of VET may be over.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
